JOURNAL OF SHANDONG UNIVERSITY(NATURAL SCIENCE) ›› 2023, Vol. 58 ›› Issue (11): 95-103.doi: 10.6040/j.issn.1671-9352.0.2022.325

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Research on incentive mechanism of manufacturing workers based on fairness preference theory

Guan WANG(),Zhao WANG,Xinhong ZHANG   

  1. School of Economics and Management, Hebei University of Science and Technology, Shijiazhuang 050000, Hebei, China
  • Received:2022-03-07 Online:2023-11-20 Published:2023-11-07

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Abstract:

Based on the cooperation between managers and workers of small and medium-sized manufacturing enterprises, the fair preference theory is introduced and the traditional principal-agent model is improved. The optimal incentive mechanism for workers with different degrees of fair preference is designed. Data simulation and example analysis are carried out on the model. The results show that the different fairness preference of both parties changes the optimal salary distribution plan, and the fatigue level of workers is also significantly different; the employment of workers with higher fairness preference increases the value of the enterprise output and managers' expected net income. In this regard, suggestions for the development of small and medium-sized manufacturing enterprises are put forward, which can provide a reference for the salary distribution of domestic small and medium-sized manufacturing enterprises.

Key words: degree of fatigue, fairness preference, principal-agent, salary incentives

CLC Number: 

  • F224

Fig.1

Relationship between the optimal sharing ratio of workers and the fairness preference of both parties"

Fig.2

Relationship between worker fatigue and fairness preference"

Fig.3

Curve of the relationship between worker sharing ratio and worker fatigue level (step 0.04)"

Fig.4

Curve of the relationship between worker sharing ratio and worker fatigue level (step 0.04)"

Fig.5

Relationship between managers' net income and fairness preference of both parties"

Fig.6

Relationship between the total output of the firm and the fairness preference of both parties"

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